Rupee bounces back by 25 paise to close at ₹82.75 against U.S. dollar

The local currency recovered on suspected RBI intervention after hitting a record low of ₹83.29 during the session.

The rupee rebounded from its lifetime lows to close 25 paise higher at ₹82.75 (provisional) against the U.S. dollar on Thursday amid weakness in the greenback overseas.

Fag-end buying in domestic equities also bolstered sentiment, forex traders said.

However, rising crude oil prices in the international market capped the rupee's gain, they added.

The local currency recovered on suspected RBI intervention after hitting a record low of ₹83.29 during the session.

At the interbank forex market, the local unit opened weak at ₹83.05 against the greenback but later lost ground to quote at ₹83.29. It also touched an intra-day high of ₹82.72.

The rupee pared all its losses to end at ₹82.75 (provisional), registering a gain of 25 paise over its previous close.

In the previous session, the rupee had settled at an all-time low of ₹83 against the dollar.